Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Fethullah Gulen’s books draw large interest in Sweden

The Stockholm-based intercultural dialog center Dialogslussen was among the participant of book fair that took place in Gothenburg. The institution’s stall partnered with Tughra Books and Blue Dome Press attracted a large number of enthusiasts. Books on Sufism and those by Fethullah Gulen as well have been among the best sellers at our stalls.”

Report: Turkey’s purge risks isolating its higher education from int’l academia

Turkey’s purge of academics has already harmed the reputation of its higher education sector, the latest Free to Think report from the New York-based Scholars at Risk (SAR) noted adding that it risks greater damage by isolating Turkish scholars, students, and institutions from the international flow of ideas and talent.

The Government Response to Turkey’s Coup Is an Affront to Democracy

It is vital for Washington and Turkey’s other international partners now to use all their influence to press Ankara to reverse course, to safeguards the rights of those caught up in the purge, and to strengthen rather than weaken the independence of the institutions that underpin it, including the courts, media, universities and parliament itself. The people who died defending it deserve nothing less.

Fethullah Gülen, sent a message to the Geneva Peace Conference

Humanity continues to face problems ranging from hunger and poverty to armed conflicts and all forms of discrimination, but these realities should not lead us to a sense of despair, apathy and hopelessness since a growing number of individuals, families, communities, institutions and civil society organizations as well as government sectors and intergovernmental agencies are slowly and patiently planting the seeds and nurturing the seedlings for the building of a more peaceful world, a world with much less suffering, conflicts and destruction.

Gülen says he would free all coup convicts if he had the means

In a statement published on herkul.org, a website that broadcasts his speeches, Gülen said he was deeply saddened to see “those elderly men” standing trial in these cases, adding that he would favor their release if he was able to. “If I had the means at my disposal, I would tell them, ‘You are all free.’ How? Just like the Prophet said to all on the day of the Conquest of Mecca: ‘Go! You are all free today’.”

Gulen calls for new constitution in Turkey

Fethullah Gulen, the Islamic preacher embroiled in a battle with the Turkish government that has shaken the country, has redoubled his criticism of Recep Tayyip Erdogan, calling for a new constitution to rein in rights he says are under siege.

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

SEO Skill Suite: Tools for Keyword Research, Technical & Backlink Analysis

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

In Case You Missed It

Ex-diplomats detained over Gülen links subjected to severe torture, says deputy

Gülen’s lawyer denies Turkish schools working against host nations

Kurds, Turkey and growing with Öcalan’s help?

GYV rejects claims that Hizmet movement dominates Turkey’s judiciary

Int’l scholars discuss ijtihad, qiyas at İstanbul symposium

Doğan: Gülen stood against anti-cemevi campaigns

Hizmet and countering violent extremism

Copyright 2026 Hizmet News